ASTANA, Kazakhstan, May 16. KazMunayGas, the largest oil and gas company in the country, continues to make a significant contribution to the development of Kazakhstan's economy, Trend reports via KazMunayGas.
According to the information, KazMunayGas forked over a whopping 1 trillion 995 billion tenge ($3.99 billion) in taxes and other obligatory payments (including joint ventures) to the state budget and the National Fund of the country in 2024.
Moreover, this amount includes contributions from joint ventures, highlighting the scale and significance of the company’s operations for the economic stability of the country. In recent years, KazMunayGas has also paid great attention to environmental sustainability and infrastructure modernization, contributing to the improvement of the overall ecological situation in the region.
Thus, KazMunayGas serves as a pivotal entity in the fiscal ecosystem, generating substantial revenue streams for the state apparatus while concurrently bolstering Kazakhstan’s economic infrastructure through job creation and the facilitation of social initiatives.
JSC "National Company KazMunayGas" (KMG) is the leading vertically integrated oil and gas company in the Republic of Kazakhstan. It manages assets throughout the entire production cycle: from exploration and extraction of hydrocarbons to transportation, processing, and providing services.
In 2024, KazMunayGas increased its production of oil and gas condensate by 1.3 percent compared to 2023, reaching a total volume of 23.8 million tons. This constitutes 26 percent of the total oil production in Kazakhstan, which amounted to 87.7 million tons in 2024.
